sales_and_leases

HFF Arranges Sale of 410,600 SF Distribution Center in Houston

by Taylor Williams September 21, 2017

HOUSTON — HFF has arranged the sale of Apex Distribution Center, a 410,600-square-foot, Class A industrial property in Houston’s Northwest Industrial submarket. Situated on 24.7 acres at 5750 Brittmoore Road and 10618-10634 Tanner Road, the three-building property offers access to Interstate 10, State Highway 290 and Loop 610. Trent Agnew and Rusty Tamlyn of HFF represented the seller, Dallas-based Crow Holdings Industrial, in the transaction. Toronto-based WPT Industrial REIT purchased the asset for an undisclosed price.

September 21, 2017

DIG Closes Sale of 196,630 SF Retail Power Center in Metro Dallas

by Taylor Williams September 21, 2017

LEWISVILLE, TEXAS — Disney Investment Group (DIG) has closed the sale of Lakepointe Towne Crossing, a 196,630-square-foot retail power center located at 709-735 Hebron Parkway in the Dallas metro of Lewisville. Anchored by Ross Dress for Less and Party City and shadow-anchored by Super Target, the property was 62 percent leased at the time of sale. DIG represented the seller, Retail Properties of America, in the transaction and procured the undisclosed buyer.

September 21, 2017

Industrial Maryland Southeast

Buchanan, Elion Purchase Industrial Portfolio in Metro D.C. for $81.2M

by Camren Skelton September 21, 2017

GAITHERSBURG, MD. — Buchanan Partners, in a joint venture with Elion Partners, has acquired a 700,000-square-foot industrial portfolio in suburban Washington, D.C. A joint venture between Ares Capital Corp. and Adler Group sold the assets for $81.2 million. The 14-building portfolio is spread across three different office parks along the Route 28 corridor in Northern Virginia: 3680-3863 Centerview Road in Dulles Business Park, 14420-14434 Albemarle Point Place in Westfields North and 14280-14290 Sullyfield Circle in Sullyfield Business Park. The new ownership plans to implement capital improvements, including landscaping and amenities, and will lease and manage the properties.

September 21, 2017

Retail Texas

Baker Katz Negotiates 41,500 SF Lease for AMC Theatres in Shenandoah, Texas

by Taylor Williams September 21, 2017

SHENANDOAH, TEXAS — Baker Katz has negotiated a 41,500-square-foot lease in Shenandoah, about 30 miles north of Houston, on behalf of AMC Theatres. The new, 10-screen theater will anchor the 69-acre MetroPark Square development, which is situated along Interstate 45 Frontage Road south of State Highway 242. Steve Greenberg of The Retail Connection represented the landlord in the lease negotiations. The theater is scheduled to open in early 2018.

September 21, 2017

Florida Industrial Southeast

TH Real Estate Buys Two Industrial Assets in Broward County for $54M

by Camren Skelton September 21, 2017

DAVIE AND TAMARAC, FLA. — TH Real Estate, an affiliate of Nuveen, has acquired two industrial properties in South Florida for $54 million. Principal Global Investors sold the properties, which include Pointe West in Davie and Westpoint in Tamarac. Constructed between 2001 and 2004, the warehouses were 93 percent leased at the time of sale to tenants including Daikin and Kapco Global.

September 21, 2017

Hospitality North Carolina Southeast

Hospitality Properties Trust Purchases 300-Room Hotel in Charlotte for $44M

by Camren Skelton September 21, 2017

CHARLOTTE, N.C. — Hospitality Properties Trust has purchased Crowne Plaza Charlotte Executive Park, a 300-room hotel in south Charlotte, for $44 million. Chris Lingerfelt, Cyrus Vazifdar and Brent Bowman of HFF represented the undisclosed seller in the transaction. Constructed in 1983, Crowne Plaza Charlotte Executive Park underwent a renovation in 2014, which included upgrades to guestrooms, public areas and meeting space, as well as the hotel’s restaurant and bar. The hotel features a fitness center, swimming pool, business center and a sand volleyball court. Located at 5700 Westpark Drive, the hotel is roughly eight miles from the Charlotte Douglas International Airport and features a complimentary airport shuttle. Hospitality Properties Trust will keep the Crowne Plaza brand affiliation, and Intercontinental Hotels Group will manage the property.

September 21, 2017

California Multifamily Western

The Bascom Group Buys Casanova Grove Apartments in Monterey for $16.7M

by Nellie Day September 21, 2017

MONTEREY, CALIF. — The Bascom Group has purchased the 76-unit Casanova Grove Apartments in Monterey for $16.7 million. The community is located at 930 Casanova Ave. Casanova Grove is less than two miles from the Pacific Ocean with the Pacific Coast Highway just a mile away. The group plans to implement a renovation plan, which will include amenity upgrades, exterior redesigns and interior renovations. Anthony Lugo represented Bascom, while Erich Pryor and Thomas Sherlock of Talonvest Capital arranged the acquisition loan from NXT Capital.

September 21, 2017

California Multifamily Western

Universe Holdings Acquires 52-Unit Apartment Complex in Los Angeles for $12.6M

by Nellie Day September 21, 2017

LOS ANGELES — Universe Holdings has acquired the 52-unit Nob Hill Towers apartment complex in Los Angeles for $12.6 million. The community is located at 2430 Ocean View Ave. Nob Hill was built in 1929. Universe Holdings will upgrade the interiors with new flooring, appliances, counters, cabinets and other improvements. Exterior renovations will include new lighting, paint and enhanced common areas and landscaping. The basement will be converted to a business center and fitness area. Kitty Wallace and her team represented both the buyer and seller, Dobson Meadows Partnership, in this transaction.

September 21, 2017

California Industrial Western

Bergen Logistics Subleases 179,518 SF of Industrial Space in Cerritos

by Nellie Day September 21, 2017

CERRITOS, CALIF. — Bergen Logistics has subleased 179,518 square feet of industrial space in Cerritos. The firm plans to use the space for ecommerce fulfillment. The new facility is located at 16016–16030 Arthur St. JLL’s Zac Sakowski and Jordan Quinn represented Bergen in the transaction.

September 21, 2017

Illinois Midwest Retail

CBRE Arranges $13.6M Sale of Retail Property in Chicago

by Kristin Harlow September 21, 2017

CHICAGO — CBRE has arranged the sale of Block Y in Chicago for $13.6 million. The 24,863-square-foot retail property is located at 1301 W. Madison St. The property is 100 percent leased to three tenants. Keely Polczynski of CBRE represented the seller, 1940 Y Century Associates LLC, which is an entity controlled by Los Angeles-based Blatteis & Schnur Inc. An affiliate of Renaissance Capital LLC purchased the asset.

September 21, 2017

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